Case Brief
The Reserve Bank of India cancelled the licence of The Kalwa Belapur Sahakari Bank Ltd., Navi Mumbai, Maharashtra, under the Banking Regulation Act, 1949 as applicable to co-operative societies. The cancellation precludes the bank from carrying on the business of banking, including accepting deposits from the public and permitting withdrawals by cheque, draft, order or otherwise.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Co-operative bank
- Location
- Navi Mumbai, Maharashtra
- Order Date